Home Entrepreneur Peter Thiel warned China could use Bitcoin as a 'financial weapon' against...

Peter Thiel warned China could use Bitcoin as a ‘financial weapon’ against the US

Famous Chinese critics have also criticized American companies doing business in the country.

April 8, 2021

2 minutes of reading

Speaking at a virtual event for the Richard Nixon Foundation on Tuesday, the PayPal co-founder Peter Thiel warn that China can use Bitcoin as a “financial weapon” against the United States, Bloomberg first report.

Thiel, a famous proponent of electronic money, seems to dampen his enthusiasm for cryptocurrencies when it comes to US-China relations.

Related: China’s challenge to Bitcoin is ready. Central Bank distributes $ 1.5 million in cryptocurrencies

“Even though I am a cryptocurrency advocate, I still wonder if at this point, should Bitcoin be viewed partly as a Chinese financial weapon against the US.” , he said, former Secretary of State Mike Pompeo and former National Security Advisor Robert O’Brien. “It threatens fiat money, but it specifically threatens the US dollar.”

A prominent China critic, Thiel, also questioned whether employees in Google’s AI division allowed Chinese officials to use their technology in the Xinjiang region. US government officials have repeatedly criticized China’s detention of Uighurs in the area in practice camps. Likewise, Thiel also devoted his criticisms to other companies – including Apple – that did business in China.

“Apple is probably [tech company] It’s a real structural issue ”to US interests, he said, according to the company Bloomberg. “Apple is a company that has a real deal with China.”

The PayPal co-founder also echoed the anti-TikTok stance from President Donald Trump, whom Thiel supported during the former president’s 2016 campaign. The entrepreneur suggested that, like India, the United States should ban its China-based social media platform, on the grounds that, without proof, the company “filters incredible data on its children. TikTok people have repeatedly said that they do not share user information.



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